Current real estate activity in Harvey LA 70058:
160 single family homes are for sale
- High list price $535,000
- Low list price $37,500
- Average list price $182,886
- Median list price $146,000
67 homes are under contract or pending sale, priced from $49,900 to $519,000
Based on the number of homes sold in March (17), there is a 9.4 month supply of homes for sale in Harvey LA
Harvey LA 70058 | Number of Homes Sold | March 2010
So far in 2010, there have been 45 successful single family homes sales, compared to 35 at the same time last year and 72 during the first quarter of 2008. This is a 29% increase in the number of homes sold in Harvey when comparing 2009 to 2010. Pricing remains the deciding factor for many buyers, so it is important for sellers to know the local market and price their homes aggressively.
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The average amount of time it is taking a home in Harvey to sell in 2010 is currently 77 days. However, don’t count on this number when selling your home since there are many factors that influence it. The average active listing has already been on the market for 105 days and the average home under contract was on the market for 88 days, so look for this number to increase as the year progresses.
One factor that is keeping the days on market down is the sale of bank owned or foreclosure properties – they are selling in an average of 53 days.
Harvey LA 70058 | Average Home Sale Prices | March 2010
It is expected that average prices will vary from month to month since they depend on which homes are sold in a 30 day period. However, it appears that bank owned properties are putting downward pressure on prices in the area, dropping the 2010 average to $136,132.
Why the drop? The average bank owned home sold in 2010 for $92,967, while privately owned homes are selling for an average of $159,923. Foreclosures have made up 33% of the 2010 home sales in Harvey. Currently there are 16 active foreclosure listings in Harvey, priced at an average of $105,356 and 17 pending sales of bank owned homes priced at an average of $103,012. Obviously, as these sales close they will have a negative impact on values in the community.
It’s important to know about foreclosures in your neighborhood if you are selling (or thinking about selling) your home. Be sure that an experienced West Bank REALTOR provides you with the details of your competition and comparables when setting your listing price.
More about March 2010 home sales in Harvey LA:
- 29% of the sales were of bank owned/foreclosure properties
- 29% of sellers paid a portion of the purchaser’s closing costs
- 47% of sellers provided a home warranty to the buyers
- FHA remains the financing choice of the majority of purchasers
All data is provided by GSREIN and is deemed reliable, but not guaranteed
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For more information about home buying or selling on the West Bank of New Orleans, or relocating to or from NAS JRB New Orleans, please contact the West Bank Living Team. It would be our pleasure to have the opportunity to assist you with any of your real estate needs and have a little fun while doing it!